The 3/10/20 is not going to find potential tops or bottoms, but will help you enjoy the majority of a swing trade. Elliot Wave can help find tops and bottoms but are best to enter and exit with smaller ST positions. ST positions can often roll-over to the MT category after a trend has been firmly established.
Gold bullish while above the 10EMA and a swing low at 1723.
Silver - Has made a bullish cross-over in the 3/10/20 ribbon:
to maintain this bullish alignment, silver needs to keep daily closes above the 10EMA (currently 40.11). From an EW perspective, silver needs to stay above 39.80 to keep an impulsive trend moving to the upside.
The previous silver chart:
The PMs are being very stingy with it's corrections. Wave {iii} blue could be under-way, but PoS must stay above 39.80 at this time.
GSR - Looks like a top is in. Now the wave 5 down toward 16 to 25 could be underway. Currently bearish (PM bullish) while the GSR is below 45. Here is the previous GSR article for reference: http://majormarketmovements.blogspot.com/search/label/Gold%2FSilver%20Ratio%20%28GSR%29
Dow - I was keeping track of the SPX, but since netdania does not carry the SPX (S&P500) I will have to use the inferior Dow industrials. Currently the Dow is under selling pressure while below the 10 EMA at 11,331. Target range for this current descent is about 9600 to 9900.
Gotta run folks,
Stay Frosty,
QG
